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Uber to vote on ex-CEO
Directors at Uber Technologies Inc. plan to vote on board reforms and whether to pursue a major stock deal with SoftBank Group Corp on Tuesday 3rd October, Bloomberg reported on Monday, citing sources familiar with the matter. The moves could potentially reshape the ride-hailing company’s governance, limiting co-founder and former Chief Executive Travis Kalanick’s power as a shareholder and board member, and lead to an official kick-starting of the largest private stock sale in history.
Tesco earnings
Tesco is scheduled to announce its first-half figures on Wednesday 4th October. The company is expected to report earnings per share (EPS) of 4.5p, up 50.8% year-on-year, while revenues are expected to grow 3.2% to £28.2 billion. Like-for-like sales are forecast to rise 2.5% for Q2, versus Q1 growth of 2.3%. This would be the seventh consecutive quarter of growth, as the firm benefits from its strategy of holding down prices, even as food inflation rises.
Catalan Independence
The Spanish region of Catalonia signals towards independence from the rest of the country as early as this week after a controversial referendum was held by Catalonian authorities. Catalan President Carles Puigdemont appealed to the European Union for support as he pledged to inform the regional parliament of the result of the vote in the coming days after hundreds of activists were injured on Sunday as they sought to stop Spanish police from shutting down the illegal referendum. The assembly, will then act in line with the referendum law, Puigdemont said — and that could lead to a unilateral declaration of independence within 48 hours of the notification.
Apple to hit $1 trillion?
Apple's market capitalisation (number of shares multiplied by share price) has risen by 30% in 2017, putting it within sight of the magic $1 trillion. Others, such as Google and Amazon, are also in with a shot, but Apple could be the one to take the crown. At $152.00 per share, the firm would need to boost its share price by 29%, to $195.62. At current valuations, Apple trades at 16 times estimated forward earnings. This current level of earnings is around $9 per share. To reach $1 trillion, the figure would need to rise to $12. This is not an insurmountable challenge, but it will take time to achieve.
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